Do you all have a minimum profit expectation for single family homes? Trying to decide whether I want to do one with an $17k profit. My minimum has been $25k but i keep losing out to rehabbers content with much lower profits. Price range is $150-175k.
Unless you have a certain profit number in mind 15 to 17k is a good profit. Its all relative though as you don't want to loose money in a deal. The more deals you do the better profits you will get later on. Have not done a deal yet myself but that's my approach to it hope this advice helps
I guess it depends how good you are at staying in budget, but that is razor thin. When prices start to soften a blip, thats a loser very very quickly.
@Cathleen Ohannigan I would not go into a flip with that thin of a margin unless it’s simple cosmetic retail flip. You would be better off wholesaling deals like that.
At least 15% and never less than 15K, but also depends on risk. If this is a gut rehab then probably not. If it's cosmetic that will only take you 1 month of work then do those all day.
instead of using absolute dollar amounts, what is your ROI %? How much is your all-in, etc.?
That's short of thin. Like @Greg Dickerson said, unless you are absolutely sure about your repair budget, $17K is a little risky.
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